St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-13
THAT BUILDING RECORD.

The more one studies st. Paul's build
ing record for the past year, published
in yesterdays GLOBE, the more con-
vinced does he become that the city
possesses all the elements of solid pros
perity. The figures are themselves an
argument in favor of the solid condi-
tons of the city which cannot be re-
futed. In comparison with the record
of other years the building statistics Of
this year show a phenomenal growth,
even under most favorable conditions.
But when it is remembered that this
growth was attained in the face of EN-
barraSSmentS and opposing conditions
of a most serious character, the record
becomes an absolute marvel.
1t must be borne i'll mind that the
GLOBES estimate, which brings the
building record for the year up to the
splendid total of 81, 54S. 3l4, is an eX-
ceedingly conservative one. Owing to
the fee system in the building inspect
or's Office, which regulates the fee for
a building permit in proportion to the
estimated cost of the building, builders
as rule make it point to fix a low
estimate on the building they propose
to erect, in many cases not fixing the eS-
innate at more than 80 per cent of the
actual cost, and rarely, if ever, at over
Is per cent. The GLOBE added the
minimum per cent to the figures OBJ
tanned from the inspectors Office, which
brought up the total to the eleven
millions and half. 1t is fair suppo-
SitiOn that another million might have
been added and yet have been within
the limit of the actual amount that has
been expended Oh buildings this year.
There is another point in the record
worthy of consideration. The great
bulk of the total amount has been eX-
pended within the city limits, and the
result of the expenditure is to be seen
in as handsome business blocks and res
licences as ever Ornamented city.
While beautiful suburban villages have
sprung UP around us. and manufacture
ing plants, and stockyardS and slaughter
houses have been established. still over
S9,OOO,0OO of the total expenditure have
been expended right here in the heart
OF the city.
The backward spring. the labor strike
and the depression in the Eastern money
markets formed combination of cir
cumStances that would have been ruin
Gus to the building record of any city
that did not rest on basis of prosper
ity too solid to be affected by eXtrane-
Gus causes or conditions. The fact that
in the face of all these adverse circum-
stances st. Paul shows up at the end of
the year with building record i'll eX-
cess of any former year. and far i'll eX-
cess of any other city in the world of
equal population, is a most gratifying
assurance that there is to be no limit to
our city's future development. Those
of lis who live here are made to feel
that we have built upon rock
that cannot be shaken. Persons
away from here who desire to invest
their capital where it will not be I'M
periled by the fluctuating cOnd itionS
which menace other cities will now
turn with longing eyes toward st. Paul.
The evidence of SOlidity which this
years building statistics present will
convince them that every dollar III
vested in st. Paul will be as safe as if
invested in a government bond, and ten
fold more productive.